Foodji closes Series A round with 23 million US dollars
- Movendo Capital and DLF Venture lead financing round, Triple Point Capital, Kraut Capital and existing investor FoodLabs are also investing
- Fresh capital for team expansion and technological advantage
- Germany's market leader for ultra-fresh, autonomous food and beverage catering quadrupled its turnover last year
Munich, March 07, 2023 - The food tech company Foodji from Munich has completed its Series A financing round of 23 million US dollars and wants to further expand its position as market leader in Germany in the area of ultra-fresh, autonomous food and beverage catering. The fresh capital will be used to strengthen the team and expand Foodji's proprietary technology. Dutch investor Movendo Capital and DLF Venture from Luxembourg joined as new partners. American investor Triple Point Capital and Kraut Capital from Germany also took part in the financing round, as did existing investor FoodLabs from Berlin.
Foodji operates intelligent food vending machines that offer fresh and healthy food anytime and exactly where people spend their everyday lives. In the office, in production, at university, in hospital, when traveling in a hotel or at the airport.
“More than 90 percent of German companies do not have their own canteen. Last year has shown that the demand for high-quality and flexible around-the-clock care — especially among German SMEs — is enormous,” explains Felix Munte, co-founder and managing director of Foodji. “With our strong team and our specially developed technology platform, we were able to quadruple our business results in 2022. With this investment, we have created the basis to further expand our position as market leader.”, adds Daniel von Canal, co-founder and managing director of Foodji.
The technology platform plays a central role in this. This already enables Foodji to use intelligent algorithms to forecast individual demand at the respective locations and to automate the entire supply chain as far as possible. This results in significantly less food waste than is the case on average in industry.
“In Germany alone, eating out of home produces 1.7 million tons of food waste every year. Foodji has managed to reduce food and packaging waste to a minimum while offering restaurant-quality food.” says Patrick Huber, general partner at FoodLabs.
“The deep-rooted technical and data-driven approach enables Foodji to digitize its entire value chain and implement such a complex business model,” explains Clément Helinckx, Principal at DLF Venture his decision to join Foodji. Alexander Scharzenberger, investment director at Movendo Capital adds: “Movendo Capital and DLF Venture are proud to have led this financing round together, reaffirming our commitment to supporting innovative companies that drive positive change in the food industry.”
In the future, Foodji would like to continue investing in its own team and, above all, expand its technological advantage. In addition, the user experience should be made more individual for the guest. In addition to technical development, they also want to expand the range of dishes in order to be able to respond to current food trends. The user experience should also be made more individual for the guest. The stated goal is to continue to grow strongly and become the central catering solution for medium-sized companies.
About Foodji
Foodji, the young food tech market leader from Munich, was founded in 2016 by Felix Munte, Daniel von Canal, Moritz Munte, Dr. Oliver Friedmann and Nicolas Luig. Foodji enables small and medium-sized companies without a canteen to provide their employees with a fresh and healthy range of food. At the heart of the company is the proprietary technology platform and the smart food vending machine “Foodji”, which offers fresh, healthy and high-quality food around the clock. These are of particularly high quality and can be reserved via app or purchased via touchscreen without registration. The menu is tailored to the wishes of employees using specially developed artificial intelligence. In addition to a personalized offer, this creates significantly less food waste than is usual in the food industry. Thanks to 24/7 availability, the Foodjis can also be used more flexibly than conventional canteens and also supply workers working in shifts and at night.
About Movendo Capital
Movendo Capital B.V. is an investment holding company that specializes in investments in innovative food and innovative retail. Behind Movendo is a fourth-generation entrepreneurial family with a long tradition in retail and food production. Movendo is a long-term investor and active shareholder.
About DLF
Founded in 2016 in Luxembourg, DLF Venture is a family-owned, consumer-oriented investment company with offices in Brussels and London, which invests primarily in Europe and focuses on four key sectors: Food & Beverage, Health & Care, Edtech and Innovative Retail.
About FoodLabs
FoodLabs is a European early stage VC investor and venture studio in the area of foodtech and sustainability. FoodLabs is based in Berlin and was founded in 2016. Since then, FoodLabs has invested in more than 50 early-stage startups along the entire food industry value chain. FoodLabs invests in ambitious start-up teams that make the world's largest industry more efficient and sustainable. The FoodLabs portfolio includes companies such as Infarm, Meatable, Mushlabs, Sanity Group and Formo.
Questions and further press inquiries to:
Alisa Erlenkötter
